Can someone dumb down the legalese re: pricing for me
"The offtake provides for pricing referenced to the market price for 6.0% Li2O spodumene concentrate, adjusted for actual Li2O content, and includes an agreed floor price. The offtake adds to the previously announced binding offtake agreement with Yahua for 75,000tpa over 4 years. Together, these agreements account for approximately 80% of the Project’s production over the first 4 years of mine life."
how does this work? what is the reference price thwy will refer to?
Cheers,
Ann: Ganfeng Offtake and Equity Investment Becomes Unconditional, page-16
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